Major Indices Pointing To Short-Term Low

"I am watching the relationship between the indices. The Dow Jones has a different composition than the NDX, but since last week, the markets have conviction and are moving together in the same direction. All major indices are below any objective level that you would identify as potential support. I would not be surprised to see a short-term low mid-week, which dovetails with CPI and PPI data," says Tom Alexander.